Research Paradigm of Construction Project Transaction

The transaction costs play an important role in construction project transaction,because of the complexity of project,bounded rationalityof people,incompleteness of contracts and the inconsistency of contractor and owner's targets as well as the contractor's moral hazard and adverse selection activities are difficult to avoid.To study the entire process of construction in the transaction perspective,it is needed to build an unified paradigm including the basic research methodology and content.In this paper,the research paradigm of transaction for construction project is established according to transaction costs economics,and the research framework of transaction patterns and transaction mechanism is established based on WSR methodology.